The Economics of New Mexico’s Gross Receipts Tax

The Rio Grande Foundation will be releasing a new paper in a matter of days that thoroughly analyzes New Mexico’s gross receipts tax and both the economic and political issues associated with dramatically broadening the tax base as New Mexico has done. Our first take on the issue was done for a national audience in the publication Human Events .
With state legislative sessions starting up around the country, other states are looking to generate ever more revenue, especially if it can be done without appearing to raise taxes. Broadening the tax base can do just that by going after those who are “unfairly” escaping certain consumption taxes (ie. services).
Be on the lookout for upcoming work on this important topic from the Rio Grande Foundation.

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